AutoTradeCenter.com Inc. on March 21, 2001 announced the expansion of the American Honda Finance Corporation Vehicle Inter-dealer Purchase System (VIPS). VIPS now includes online sale of the Honda Finance lease vehicles while en route and marshaled at auctions nationwide. These auction facilities include select members of ADESA Corp., Auction Broadcasting Company Inc., Manheim Auctions, ServNet and independent auction locations. David Langley, American Honda Finance Corp. manager of lease-end remarketing, stated, "The success of the VIPS program, and its overwhelming support by our dealer body, has inspired comprehensive expansion to include our auction partners. Our objective is to keep our dealers in touch throughout the disposition cycle, taking advantage of every possible opportunity to sell the car. This expansion extends our dealer access to inventory previously unavailable." Honda Finance host auctions will provide physical transport, inspection, and marshaling of Honda's VIPS online inventory as well as a variety of value-added services to purchasing Honda and Acura dealers. Those vehicles that remain unsold on the VIPS will be prepared for sale and sold in the auction lanes. Frank Stephens, VP marketing and strategic planning, ADESA Corp., said, "Off-lease vehicle volumes are on the rise. Managing these assets requires a winning strategy and diverse channels. Honda Finance, with AutoTradeCenter, has been a pioneering force in utilizing the Internet to accomplish this task. We believe combining auction expertise, with proven Web presence provides the highest level of service to seller and buyer.” "In the VIPS original format," added Colette Marcilliat, vice president, marketing for AutoTradeCenter, "Honda/Acura dealers purchased 35 percent of all off-lease vehicles. We fully expect a lift in sales with the extended format as dealers, with a single VIPS log-in, can seamlessly access and purchase vehicles regardless of whether they are located on a dealer lot, en route or at a partner auction facility." "We do feel that we have taken a giant step in vehicle remarketing," stated Bob Rauschenberg, vice president, Auction Broadcasting Co. "AutoTradeCenter is the industry conduit, effectively filling the void between vehicle turn-in and live sale in the auction lanes. ABC believes there is tremendous opportunity where the technologies meet." Stephens continued, "Once a vehicle is sold on auction property, the purchasing dealer will have full access to many value-added services or 'VAS' including reconditioning, various repairs and even pre-certification at ADESA auctions." "The remarketing landscape has changed," commented Harry Beyer, director sales and marketing, ServNet Auction Group. "Our clients' needs include effective Internet remarketing services. We consider the VIPS extension initiative a historic industry first, one in ServNet's long line of groundbreaking implementation of Internet technology.” "Honda Finance is a long-term and valued Manheim client," stated George Largay, director of communications for Manheim Auctions, "and we look forward to continuing to assist them and their dealers in meeting their business objectives." The Honda Finance VIP Web site, designed and powered by AutoTradeCenter.com, provides the Honda and Acura franchised dealers with a virtual private network for the purchase of approximately 150,000 Honda Finance off-lease vehicles annually. AutoTradeCenter Remarketing Services completed the national launch of the VIP Web site with 100 percent dealer participation on June 12, 2000. Utilizing the company's state-of-the-art technology and unparalleled support services allows American Honda Finance Corp. to meet its objective of becoming the automotive industry's most successful Internet seller of off-lease vehicles.